{"id":4582,"date":"2023-03-15T14:37:23","date_gmt":"2023-03-15T19:37:23","guid":{"rendered":"https:\/\/www.ncultheaffiliate.com\/?p=4582"},"modified":"2023-03-15T14:37:23","modified_gmt":"2023-03-15T19:37:23","slug":"what-nebraska-cus-should-know-about-silicon-valley-bank-and-signature-bank","status":"publish","type":"post","link":"https:\/\/www.ncultheaffiliate.com\/?p=4582","title":{"rendered":"What Nebraska CUs Should Know About Silicon Valley Bank and Signature Bank"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221;][et_pb_row _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221;]<\/p>\n<p><img loading=\"lazy\" class=\"wp-image-4584  alignleft\" src=\"http:\/\/www.ncultheaffiliate.com\/wp-content\/uploads\/2023\/03\/banks.jpg\" alt=\"\" width=\"187\" height=\"125\" srcset=\"https:\/\/www.ncultheaffiliate.com\/wp-content\/uploads\/2023\/03\/banks.jpg 315w, https:\/\/www.ncultheaffiliate.com\/wp-content\/uploads\/2023\/03\/banks-300x201.jpg 300w\" sizes=\"(max-width: 187px) 100vw, 187px\" \/>The collapse of California-based Silicon Valley Bank on Friday was the second largest failure of a financial institution in U.S. history. The bank was shut down and put under the control of the FDIC following a 48-hour bank run and capital crisis.<\/p>\n<p>The New York State Department of Financial Services, in conjunction with the FDIC, closed Signature Bank, the third-largest failure in U.S. banking history. Signature was a state-chartered bank with private client offices in New York, Connecticut, California, Nevada, and North Carolina.<\/p>\n<p>While credit unions were not involved in the failures, the League recognizes it may still create some consumer concerns here in Nebraska and nationally.<\/p>\n<p>Below are some talking points that you may wish to use when discussing this issue with your members:<\/p>\n<ul>\n<li>Both failed banks had limited customer base, which lead to the failures. Today\u2019s credit unions have a wide membership base, which strengthens our financial position.\u00a0<\/li>\n<li>Credit union deposits in federally insured credit unions are safe and secure.<\/li>\n<li>All Nebraska credit unions offer a safe place for members to save their money and all deposits up to $250,000 are protected and insured by the National Credit Union Share Insurance Fund.<\/li>\n<li>Nebraska credit union members have never lost a penny of insured savings at a federally insured credit union.<\/li>\n<li>All Nebraska credit unions are regularly examined by financial regulators to ensure proper management and maintain the safety and soundness of members\u2019 money within the institution.<\/li>\n<\/ul>\n<p>Visit\u00a0<a href=\"https:\/\/mycreditunion.gov\/share-insurance\"><em>MyCreditunion.gov<\/em><\/a>\u00a0for more information about the National Credit Union Share Insurance Fund coverage for consumers.\u00a0<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n  ","protected":false},"excerpt":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221;][et_pb_row _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.9.4&#8243; _module_preset=&#8221;default&#8221;] The collapse of California-based Silicon Valley Bank on Friday was the second largest failure of a financial institution in U.S. history. The bank was shut down and put under the control of the FDIC following a 48-hour bank run and capital crisis. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/4582"}],"collection":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4582"}],"version-history":[{"count":0,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/4582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}